PTIIn the last four months, Bharti Airtel has prepaid £24,334 million of its deferred spectrum debt
In the last four months, Bharti Airtel has prepaid £24,334 million of its deferred spectrum debt
Telecoms operator Bharti Airtel announced on Friday that it has paid £8,815 million to the Government for a partial prepayment of deferred liabilities related to spectrum acquired at the 2015 auction. The upfront payment applies to installments due in fiscal years 2027 and 2028, the Sunil Mittal-led telecoms company said in a statement.
“Airtel is paying £8,815m up front to settle accrued liabilities for spectrum purchased in 2015,” the company said.
In the last four months, Bharti Airtel has prepaid £24,334 million of its deferred spectrum debt. These liabilities bore an interest rate of 10% and were repaid through a combination of free cash generated by the Company, equity proceeds and significantly lower borrowing costs of similar maturity.
Bharti Airtel said it remains focused on providing financial flexibility through its capital structure, including optimizing financing costs and taking advantage of any opportunities for significant interest savings, such as the latest upfront payment.
A worker cleans a Bharti Airtel logo at his shop in Kolkata. | Photo credit: RUPAK DE CHOWDHURI
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